HARDROCK QUARRY CEDAR ROAD, REDBANK PLAINS (with adjacent land)
INFORMATION MEMORANDUM
Total land area of 186 hectares (approximately)
HARDROCK QUARRY CEDAR ROAD, REDBANK PLAINS (with adjacent land)
Contents
Introduction............................................................ 4 Executive Summary.............................................. 5 Property Description............................................ 6 Location.................................................................... 7 The Property............................................................ 8 Town Planning...................................................... 10 Why Buy Hardrock Quary and Adjacent land?... 11 Investment Drivers.............................................. 13 Major Infrastructure .......................................... 14 Sales Process.......................................................... 15
Information Memorandum
Introduction
The Hardrock Quarry at Cedar Road, Redbank Plains is a 186-hectare parcel of land with a significant portion of the land being elevated, which provides extensive scenic views over the urban landscape, bushland and distant hills. Adjacent to Springfield City and just 33 kilometers from Brisbane City, the location of the property is situated in the fastest growth region of South East Queensland. The land is zoned Future Urban under the Ipswich City Town Plan and with a rail corridor situated along the northern boundary of the land there is a commercial opportunity to master plan for a future transport orientated development subject to local council and state government approval. A working quarry is located on the property which provides current income and the quantity of bed rock in situ will provide for many years of future extraction. Additional existing revenue is also available from a communication tower located on site. Sotheby’s International Realty presents this outstanding parcel of land for sale. We highly recommend this opportunity to purchase the land to developers who are in the residential land subdivision business. This is an outstanding opportunity to acquire a prominent parcel of land with significant upside.
HARDROCK QUARRY CEDAR ROAD, REDBANK PLAINS (with adjacent land)
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Executive Summary • Large elevated site of 186 hectares/460 acres (approximately) • Prime location in South East Queensland growth corridor • Suburban population: - Estimated current total 36,000 - Estimated future total 138,000 (by 2030) • Situated within 10 minutes travel to Springfield City and 20 minutes to Ipswich City • Approximately 33 kilometers south-west from Brisbane City • Two train stations within 15 minutes’ drive time with access to Brisbane CBD in 45 minutes • Access to regional shopping centers at Redbank Plains and Orion Centre at Springfield • Several schools located within a few minutes’ drive • Public and private infrastructure expenditure in excess of $20 billion within the region • Working quarry on site • Additional income from communication tower • Commercial opportunity to land bank an important site for future development and master plan for greater potential land value
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Property Description Address: • 240 Keidges Road, Redbank Plains QLD 4301 • Lot 167 Keidges Road, Redbank Plains QLD 4301 • Lot 218 Keidges Road, Redbank Plains QLD 4301 • 268-316 School Road, Redbank Plains QLD 4301 • Lot 246 School Road, Redbank Plains QLD 4301 • 55-63 Purser Road, Augustine Heights QLD 4300 • 1-53 Purser Road, Augustine Heights QLD 4300
Total Premises Area: 181.584ha
Property Description: • Lot 188 on S31346 (44.92ha) • Lot 167 on S31173 (38.04ha) • Lot 218 on S311214 (6.374ha) • Lot 164 on SP196910 (31.362ha) • Lot 246 on SP196909 (32.808ha) • Lot 184 on S31339 (17.705ha) • Lot 1 on RP47649 (10.375ha) Local Government Area: • Ipswich City Council Applicable Planning Scheme: • Ipswich Planning Scheme (23 January 2006) Current Planning Scheme Zone: • Future Urban – South Redbank Plains Zone • Recreation Zone • Conservation Zone Current Planning Scheme Sub-Area: • FU2 – South Redbank Plains Sub Area Easement: • Strata parcel located over Lot 1 on RP47649, Lot 167 on S31173 and Lot 218 on S311214
HARDROCK QUARRY CEDAR ROAD, REDBANK PLAINS (with adjacent land)
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The Location Greenw
ood Vill
age Rd
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Hallett s Rd
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61
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CEDAR ROAD, REDBANK PLAINS (with adjacent land)
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HARDROCK QUARRY
l Rd
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Cedar
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The Redbank Plains suburban area is situated between two thriving South East Queensland cities; the well established City of Ipswich and the emerging and thriving City of Springfield. The region is recognised for its housing diversity and lifestyle which has attracted families of all ages to live and work there. Substantial investment in infrastructure in the past has provided a network of roads to
facilitate access to retail shopping centers, schools, offices and industrial precincts. A railway connects Springfield City to Brisbane City for those who choose to live in the location but commute for work or visit the city for leisure. Well recognized as one of the fastest growing regions in Australia, this location provides a lifestyle to suit persons of all ages.
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The Property
The Hardrock Quarry land represents a rare opportunity to purchase a significant site with excellent future development potential (STCA*). Located just 33 kilometers south of Brisbane CBD and close to the Greater Springfield City, the land is situated in a region that has seen over $20 billion invested in public and private infrastructure. This investment has produced tremendous benefits to the community. This property is ideally suited to a Master Planned Community Development. The intense urban development is due to continue within the region and this property is located in the center of the activity. A strategic plan that is conceived to deliver various housing product and a vibrant lifestyle, to meet
the demands of the projected population growth, will ensure a successful development outcome. With the proposed rail line extension from Springfield City passing along the northern boundary of the subject property, there is potential to plan and build a Transport Oriented Development. This outcome would provide living choices and leisure activities for those choosing to commute for work to Springfield City, Brisbane City, Ipswich City or the many suburbs along the railway route. The “Connecting SEQ 2031 Plan” has listed an Urban Link high frequency rail service from Springfield onto Redbank Plains via Augustine Heights (local suburb) as an extension to the existing Springfield line.
*STCA – Subject to council approval
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Continued investment in the region has seen a $5 billion defence contract awarded that will ensure future employment and further demand for housing and additional infrastructure growth for many years to come. Much of the subject land is elevated with views to Brisbane and Moreton Bay to the north and to the south there are views out to the Cunningham Gap. Valleys on the land provide water catchment for the several dams situated on the property and several paddocks on the lower levels provide grazing for cattle and horses. The quarry situated on the property is a fully operational extractive quarry producing a variety of metal suitable for road base and the construction industry. The quarry has substantial reserves of in-situ rock and represents a considerable asset to a future owner due to the onsite presence of this reserve. There are current negotiations to lease the quarry to an operator together with an onsite concrete batching plant operator. Further information concerning these leases will be made available to prospective purchasers under the contractual due diligence period. In addition to the quarry there are a number of buildings on the property: • an administrative building with covered car parking and hard stand car park • a manager’s house • several sheds housing workshop and covered vehicle parking • disused cottage Several paddocks are fenced and a stock loading ramp is erected close to the entrance road.
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Information Memorandum
Town Planning
Under the Ipswich City Council Planning Scheme the land is zoned: • Future Urban - South Redbank Plains zone • Current Planning scheme Sub-area: - FU2 south Redbank Plains sub area - Recreation zone - Conservation zone The current planning scheme shows an easement located over Lots 1 on RP47649, Lot 167 on S31173 and Lot 218 on S311214. This easement looks to provide future extension of Keidges Road over the subject property.
The South East Queensland Regional Plan 2017 provides for the majority of the land to be situated within the “Urban Footprint” of the Regional Plan. Residential and urban development is generally supported under this term. The Eastern Boundary of the property has been categorised as being a waterway corridor which will require advice from an engineer in order to establish the implications of this corridor. We state that no detailed investigation has been made as to the development potential of the subject property and that interested parties should make their own investigations as to the future development of this property.
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Information Memorandum
Why Buy the Hardrock Quarry and Adjacent Land?
This property represents a rare opportunity to purchase a large, prime site in a fast-emerging growth area of Queensland. The property is adjacent to a number of strategic locations with the primary location being its proximity to Greater Springfield City. Since 1992 when the land which is now known as Springfield was acquired, the master planning undertaken has seen this region evolve into a world class city and Australia’s largest master planned community of some 35,000 residents. The projected population is anticipated to be 105,000 residents covering a group of suburbs approaching the size of the city of Darwin. Hardrock Quarry is located in one of those suburbs (Augustine Heights) and is therefore strategically situated to become part of the success story that is Springfield.
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Information Memorandum
Within the immediate location of this property you will find the following: • motorways and highways to provide transport to places of work, to commercial centers, office premises, hospitals and leisure facilities • two suburban railway stations providing direct access to Brisbane CBD and International Airport and Domestic Terminal • local schools and an Education Hub with University of Southern Queensland and a TAFE • a master planned Health Campus with Mater Private Hospital • major shopping centers including the Orion Center • leisure parks and the Brookwater Golf Course • emerging employment opportunities as business centers are developed
This region is the growth corridor for South East Queensland and it is poised to develop rapidly into a strategic and prosperous urban environment where innovation and initiative will continue to change the region and ensure its continuing success. Very rarely does a property such as the Hardrock Quarry come to the market offering a “blank canvas” that will allow bold thinking mixed with smart planning and diligent development to combine and produce a master planned solution to enhance this property.
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Information Memorandum
Investment Drivers
• Greater Springfield is on target to reach population of 130,000 by 2030. • Ipswich City population is estimated to increase to almost 500,000 over the next 25 years and is the fastest growing city in Queensland. • $15 billion invested to date, and another $7 billion committed by local and international investors to Greater Springfield. •
Greater Springfield is home to the largest master planned integrated seniors’ living campus in Australia, next to Mater Private Hospital Springfield.
• The $6.4 billion flagship Aveo retirement development to take shape over the next 15 years and include 2,500 retirement living units. • Commitment for Australia’s largest and most unique transit-oriented development adjacent to Springfield Central rail station.
•
Largest sports and recreation project in Ipswich’s history taking shape at Springfield Central – to encompass 8 tennis courts, 16 netball courts, 8 rectangular fields, 4 ovals, athletics track, 3 club houses and 600 car parks.
• Growth expected at Greater Springfield to 2030 is projected to generate 35,000 jobs. • 52 hectares set aside for Health City precinct, to employ approximately 16,000 people. • 10 private and public schools, 15 childcare centres, a major campus of the University of Southern Queensland, and a TAFE. • 9 hectares set aside for a technology and entertainment precinct. • Ipswich Gross Regional Product is $9.25 billion (at 2017). Resources: Ipswich First, ‘What the future holds for Springfield’, 5 November 2017. .idcommunity, ‘City of Ipswich Economic Profile’, 2017. Ipswich City Council, ‘Business: Why Ipswich?’, 2017.
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Information Memorandum
Major Infrastructure
150M IPSWICH
$
CBD REDEVELOPMENT
Includes a new Council administration building, library, open space for hosting major public events, markets, artisans and food experiences.
170M IPSWICH
$
MOTORSPORT PARK
The Ipswich Motorsport Park planned redevelopment will become Queensland’s premier motorsport precinct. With the motorsport industry already having generated nearly $4 billion nationally, this new development is expected to return over $70 million in commercial and economic benefits to the local and state economy.
22B SPRINGFIELD
$
GREATER
REDEVELOPMENT
Greater Springfield is a master planned community focusing on health, education and information technology, with the development of a hospital, multiple high schools, a university campus, and industry and shopping precincts. This also includes a $1.2 billion rail and transport hub for the area, and a $6.4 billion flagship Aveo retirement development.
1.5B
$
RIPLEY VALLEY TOWN CENTRE
Ripley Valley will become home to a population of 120,000 with distinctive neighbourhoods and mixed-use villages developed for the master planned community. Ripley Valley will also gain a $1.5 billion town centre and public transport infrastructure. Resources: Ipswich City Council, ‘Business: Business Attraction and Investment’, 2017.
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Information Memorandum
Sales Process The property known as Hardrock Quarry situated off Cedar Road, Redbank Plains, Qld 4301 is being offered for Sale by Expressions of Interest (EOI). Closing date for lodgement of the EOI:
Wednesday 12th December 2018
Time of lodgement of EOI:
Prior to 3 pm (AEST) on the above date
Interested parties are to lodge an offer to purchase (EOI) at the office of:
Queensland Sotheby’s International Realty, 30 Tedder Avenue, Main Beach, Qld 4127
The Vendor will prepare a shortlist from the list of EOIs that have been submitted and enter into discussion with these parties within 7 days of the closing date so as to select the preferred purchaser. The preferred purchaser will be required to enter into a contract of sale upon terms and conditions that have been agreed between the parties. This contract will provide for a due diligence period to allow the intending purchaser to examine matters pertaining to the subject land. The Vendor reserves the right to treat with any offer which he may find acceptable prior to the closing date of the EOI period. Inspections of the property can be arranged by contacting the Agent and please note that onsite inspections will be conducted between the hours of 10am and prior to 2pm on most weekdays, with the exception of Fridays.
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Further information concerning income, quarry charges etc can be obtained from the Agent. The quarry operational information will be made available to those who are shortlisted. A copy of the Expression of Interest Form is available from the Agent.
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HARDROCK QUARRY CEDAR ROAD, REDBANK PLAINS (with adjacent land)
INFORMATION MEMORANDUM
RICHARD BEAN Director – Queensland Sotheby’s International Special Projects P:
+61 7 5560 8888
M:
+61 410 876077
E:
richard.bean@qldsir.com
This Information Memorandum is provided by Pla’d Investments P/L trading as Sotheby’s International Realty Queensland (SIRQ) or one of its associated/subsidiary companies. The information contained herein has been obtained from sources believed reliable and has been prepared to assist interested parties who may be interested in the property to make their own evaluation as to the suitability of the property or any improvements contained thereon. The Information Memorandum does not purport to contain all information that a prospective purchaser may require. SIRQ have not verified the information contained herein and make no guarantee, warranty or representation, express or implied as to the accuracy or completeness of the information. Any projections, opinions assumptions or estimates used are for example only and do not represent current or future performance of the market. SIRQ shall not have any liability for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from, or failure to correct any information in this Memorandum, or any other written or oral communications transmitted to any recipient of this Memorandum in relation to the property. Furthermore we make no representation as to the suitability of the property or the improvements thereon and interested parties should satisfy themselves of all aspects of such information, including without limitation, any income, rentals, dimensions, areas, zoning and permits. Possession of this Memorandum will constitute acceptance by the recipient and readers of these terms and conditions. In all cases, interested parties should conduct their own investigation, analysis and verification of the data contained in this Information Memorandum and details of the property. Reasonable care has been taken to ensure that this document (if sent by electronic communication and any attachments or hyperlinks contained within it) is free from computer viruses. No responsibility is accepted by SIRQ or its associated/subsidiary companies or its employees and the recipient should carry out any appropriate virus checks.